[BRIEFING.COM] S&P futures vs fair value: -7.60. Nasdaq futures vs fair value: -22.50.
The stock market is on pace for a lower start, as geopolitical angst and global growth concerns continue to weigh on global stocks and pressure U.S. futures. The S&P 500 futures trade eight points, or 0.3%, below fair value.
Hong Kong remains the focal point, as government protesters disrupted the city's airport again and caused flights to be suspended for the second consecutive day. Hong Kong's Hang Seng fell 2.1% on Tuesday, reflecting burgeoning angst about forceful Chinese intervention. Elsewhere, the Europe Stoxx 600 is down 0.8%, led lower by Germany's DAX (-1.0%) following disappointing economic sentiment data.
Shorter-dated U.S. Treasury yields have edged higher after CPI data showed steady growth as expected. The compression in yields, however, continues to draw negative attention. Currently, the 2-yr yield is up two basis points to 1.60%, and the 10-yr yield is unchanged at 1.64%.